KeyCorp Issues Pessimistic Forecast for Simulations Plus (NASDAQ:SLP) Stock Price

Simulations Plus (NASDAQ:SLP) had its price objective reduced by equities researchers at KeyCorp from $40.00 to $35.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 25.00% from the stock’s current price.

Several other research analysts have also weighed in on the stock. BTIG Research lowered their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. William Blair reissued an “outperform” rating on shares of Simulations Plus in a report on Wednesday. Finally, Stephens began coverage on Simulations Plus in a report on Friday, November 15th. They set an “overweight” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Simulations Plus Stock Performance

NASDAQ SLP traded down $2.39 during trading on Wednesday, hitting $28.00. The stock had a trading volume of 1,450,888 shares, compared to its average volume of 517,188. Simulations Plus has a 12 month low of $24.00 and a 12 month high of $51.22. The company’s 50-day moving average price is $29.80 and its two-hundred day moving average price is $34.04. The company has a market capitalization of $562.38 million, a PE ratio of 57.14 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. Simulations Plus had a return on equity of 6.16% and a net margin of 14.15%. Simulations Plus’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, equities analysts anticipate that Simulations Plus will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director now owns 3,462,584 shares in the company, valued at approximately $95,775,073.44. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is currently owned by company insiders.

Institutional Trading of Simulations Plus

A number of institutional investors and hedge funds have recently made changes to their positions in SLP. Tributary Capital Management LLC lifted its stake in Simulations Plus by 54.7% during the third quarter. Tributary Capital Management LLC now owns 325,567 shares of the technology company’s stock worth $10,425,000 after purchasing an additional 115,122 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Simulations Plus by 28.8% during the third quarter. Royce & Associates LP now owns 237,416 shares of the technology company’s stock valued at $7,602,000 after purchasing an additional 53,092 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Simulations Plus by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 414,005 shares of the technology company’s stock worth $20,128,000 after purchasing an additional 37,992 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of Simulations Plus by 22.5% in the third quarter. Congress Asset Management Co. now owns 206,542 shares of the technology company’s stock valued at $6,613,000 after buying an additional 37,914 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Simulations Plus by 402.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 39,944 shares of the technology company’s stock valued at $1,279,000 after buying an additional 32,002 shares during the last quarter. Institutional investors own 78.08% of the company’s stock.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.